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> Debt to Income Ratio
> Home Loan Modification
> Stop Foreclosure with Mortgage Refinance with Bad Credit
> Are You Facing a Home Foreclosure?
> Home Refinancing After Bankruptcy


Stopping a Foreclosure with Mortgage Refinance Loans
for Bad Credit

Refinancing your mortgage loan will automatically stop the foreclosure process because you will be paying off the all of the outstanding mortgage amount owed, including the entire amount of the mortgage payments you were behind. Have you tried to refinance a mortgage with bad credit in order to avoid or stop house foreclosure, only to be denied? Many people make the mistake of going back to their lender or going to one that doesn't specialize in bad credit loans. Now that your circumstances have changed, you need to work with a mortgage lender who specializes in helping borrowers with less than perfect credit. Better yet, try to get matched up with a foreclosure loan specialist.

Now that you found a good lender, the question is: do you have enough equity to pay what you owe and get current? If you are facing foreclosure and looking to refinance to avoid or stop the foreclosure, keep in mind that a new lender will charge 3 to 5 points and paying that 5% prepayment penalty will consume a large chunk of your equity.

If it is determined that you have enough equity for bad credit home loan refinancing, you need to realize that your options are limited. And, you are going to be paying a higher interest rate if you do find a loan, because you are viewed as a higher lending risk than someone with good credit. However, a refinance could stop the foreclosure and the increased damage it would do to your already bad credit. A foreclosure can stay on your credit for up to 10 years, so it could be worth paying somewhat higher interest to save your home.